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Unwired Planet, Inc. Announces Second Quarter 2013 Financial Results

RENO, Nev. --(Business Wire)--

Unwired Planet, Inc. (UPIP), today announced financial results for the
second quarter 2013.

"Over the past year we have transformed the company into a premier
intellectual property firm. From our enforcement actions in Delaware and
Nevada, and our streamlined corporate structure in Reno, Nevada, to the
prospects of our recently announced patent deal with Ericsson, Unwired
Planet is poised to deliver on its IP model," said Mike Mulica, Chief
Executive Officer of Unwired Planet. "This quarter we have also made
additions to our Board of Directors, which we believe will further
strengthen the Company as we seek to accelerate the pace on execution on
our long-term strategy and monetize the company's significant assets."

On a GAAP basis, net loss for the second fiscal quarter ended December
31, 2012 was $11.6 million, or $0.13 per share, compared with a net loss
of $15.1 million, or $0.17 per share, in the prior quarter and with a
net loss of $10.4 million, or $0.12 per share, in the December quarter
of the preceding year.

On a non-GAAP basis, net loss for the first fiscal quarter ended
December 31, 2012 was $6.1 million, or $0.07 per share, compared with a
net loss of $8.1 million, or $0.09 per share, in the prior quarter and a
net loss of $4.7 million, or $0.05 per share, in the December quarter of
the preceding year. Non-GAAP net loss excludes restructuring,
stock-based compensation, strategic costs, discontinued operations and
the tax impact of these items.

A reconciliation between net income (loss) and net income (loss) per
share on a GAAP basis and a non-GAAP basis is provided below in a table
immediately following the Condensed Consolidated Statements of
Operations.

Non-GAAP Measure

The Company's stated results include the non-GAAP measures: non-GAAP net
income (loss) and non-GAAP net income (loss) per share. These non-GAAP
measures exclude certain items that generally are non-recurring events
or are non-cash items that many other companies exclude, in order to
compare Unwired Planet with other companies, such as stock-based
compensation. These non-GAAP measures also exclude items which
management does not consider in evaluating Unwired Planet's on-going
business, such as restructuring costs and discontinued operations.
Unwired Planet considers non-GAAP net income (loss) to be an important
metric because it provides a useful measure of the operational
performance of Unwired Planet and is used by Unwired Planet's management
for that purpose. In addition, investors often use measures such as
these to evaluate the financial performance of a company. These non-GAAP
measures are presented for supplemental informational purposes only for
understanding Unwired Planet's operating results. These non-GAAP results
should not be considered a substitute for financial information
presented in accordance with generally accepted accounting principles,
and may be different from non-GAAP measures used by other companies.

Conference Call Information

Unwired Planet has scheduled a conference call for 5:00 p.m. eastern
daylight time today to discuss its financial results for its second
quarter 2013 ended December 31, 2012. Interested parties may access the
conference call over the Internet through Unwired Planet's website at www.unwiredplanet.com
or by telephone at 888-846-5003 or 480-629-9856 (international). A
replay of the conference call will be available for three weeks
(until February 21), beginning at 5:00 p.m. PT on January 31 by calling
800-406-7325. The replay can be accessed internationally by calling
303-590-3030, access code: 4592391#.

A live webcast of the call, together with supplemental financial
information, will also be available on the Investors section of Unwired
Planet's website at http://www.unwiredplant.com/investors.
A replay will be available on the website for at least three months.

About Unwired Planet

Unwired Planet (NASDAQ: UPIP) is the inventor of the mobile internet.
Unwired Planet established many of the foundational patents that allow
mobile devices to connect to the Internet. Over the years, the company
has amassed a patent portfolio of approximately 200 issued US and
foreign patents and approximately 75 pending applications, many of which
are considered foundational to mobile communications, and span smart
devices, cloud technologies and unified messaging.

Cautionary Note Regarding Forward Looking Statements

The statements in this press release in Mr. Mulica's quote with respect
to future events or expectations are forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1943 and
Section 27A of the Securities Act of 1933. These forward-looking
statements are subject to many risks and uncertainties that could cause
actual results to differ materially from those projected.
Notwithstanding changes that may occur with respect to matters relating
to any forward looking statements, Unwired Planet assumes no obligation
to update the forward-looking statements included in this press release.

For a detailed discussion of these and other factors that may cause
these forward looking statements not to come true, please refer to the
risk factors discussed in Unwired Planet's filings with the U.S.
Securities and Exchange Commission ("SEC"), including the company's
Annual Report on Form 10-K for the fiscal year ended June 30, 2012.
These documents are available through the SEC's Electronic Data
Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov
or from Unwired Planet's website at www.unwiredplanet.com.

UNWIRED PLANET, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS-UNAUDITED

(In thousands)

December 31,

June 30,

2012

2012

Assets

Current Assets:

Cash and cash equivalents

$

24,615

$

39,709

Short-term investments

32,669

43,860

Restricted cash and investments

675

-

Prepaid and other current assets

1,552

3,960

Total current assets

59,511

87,529

Property and equipment, net

135

452

Long-term investments

4,548

9,423

Deposits and other assets

89

89

Total assets

$

64,283

$

97,493

Liabilities and Stockholders' Equity

Current Liabilities:

Accounts payable

$

5,967

$

6,088

Accrued liabilities

5,402

8,119

Accrued restructuring costs

7,298

12,871

Total current liabilities

18,667

27,078

Accrued restructuring costs, less current portion

512

827

Long-term taxes payable and other

633

959

Total liabilities

19,812

28,864

Stockholders' equity

44,471

68,629

Total liabilities and stockholders' equity

$

64,283

$

97,493

UNWIRED PLANET, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS-UNAUDITED

(In thousands, except per share data)

Three Months Ended

Six Months Ended

December 31,

September 30,

December 31,

December 31,

December 31,

2012

2012

2011

2012

2011

Revenues:

Patents

$

3

$

3

$

5

$

6

$

15,026

Total revenues

3

3

5

6

15,026

Operating Expenses:

Sales and marketing expenses

-

78

-

78

375

Patent initiative expenses

3,156

5,559

3,272

8,715

4,996

General and administrative

4,350

3,791

1,212

8,141

2,898

Restructuring and other related costs

1,349

457

1,784

1,806

2,335

Total operating expenses

8,855

9,885

6,268

18,740

10,604

Operating income (loss) from continuing operations

(8,852

)

(9,882

)

(6,263

)

(18,734

)

4,422

Interest and other income (expense), net

39

50

(309

)

89

(247

)

Net income (loss) from continuing operations

(8,813

)

(9,832

)

(6,572

)

(18,645

)

4,175

Income taxes

-

-

2,501

-

2,501

Net income (loss) from continuing operations

(8,813

)

(9,832

)

(9,073

)

(18,645

)

1,674

Loss on sale of discontinued operation

-

(750

)

-

(750

)

-

Discontinued operations, net

(2,797

)

(4,528

)

(1,317

)

(7,325

)

(9,423

)

Net loss

$

(11,610

)

$

(15,110

)

$

(10,390

)

$

(26,720

)

$

(7,749

)

Basic and diluted net income (loss) per share from:

Continuing operations

$

(0.10

)

$

(0.11

)

$

(0.11

)

$

(0.21

)

$

0.02

Discontinued operations

$

(0.03

)

(0.06

)

(0.01

)

(0.09

)

(0.11

)

Net income loss per share

$

(0.13

)

$

(0.17

)

$

(0.12

)

$

(0.30

)

$

(0.09

)

Shares used in basic and diluted net income (loss ) per share

90,323

89,971

85,594

90,147

85,538

Stock-based compensation by category:

Sales and marketing

$

-

$

1

$

-

$

1

$

-

General and administrative

298

435

133

733

267

Discontinued operations

489

73

501

562

952

$

787

$

509

$

634

$

1,296

$

1,219

UNWIRED PLANET, INC.

RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME
(LOSS)